NAB discusses AUD/USD technical outlook and holds a low conviction bias around current levels.
"Bullish MT and LT triggers produced in Q4 2019 were unable to break the two-year downtrend. Impulsive rejection of trend resistance places AUD/USD back in a neutral space," NAB notes.
"We anticipate AUD/USD maintaining an approximate 0.67 to 0.69 range in the coming weeks. While this range holds we will continue to hold a low conviction," NAB adds.